'Forbes' Is Now Refuting Kylie Jenner's Billionaire Status

Claiming the 21-year-old fabricated her tax returns.

By
Entertainment
54,669 Hypes 37 Comments

Forbes is renouncing Kylie Jenner’s “Self-Made Billionaire” status made last year. According to the publication, the youngest Kardashian’s wealth may not be as high as Forbes originally published.

Forbes insists that Kylie Jenner may have shown its reporters doctored tax returns in order to misdirect her valuation. The publication claims fake documents were shown to its reporters when Kylie invited them into her home — of Kylie Cosmetics’ first-year earnings (2016) of $307 million USD, that $110 million USD was returned. Forbes accuses the Kardashian of following up with additional false information that implied a 7% growth for her company in 2017 ($330 million USD), topped by a $360 million USD figure in 2018. The numbers continued to not add up after Coty Inc.’s $600 million USD majority stake purchase, where a 40% growth in sales in 2018 garnered the company a total of $125 million USD, much lower than the $360 million USD projected from the Jenners.

Kylie, however, has been largely vocal in her defense over a flurry of tweets. The young entrepreneur states that much of the magazine’s statements are “inaccurate” and are mostly “unproven assumptions.” She adds, “I’ve never asked for any title or tried to lie my way there EVER. period… I can name a list of 100 things more important right now than fixating on how much money I have.”

Kylie’s lawyer Michael Kump chimed in on the matter, Forbes accusation that Kylie and her accountants ‘forged tax returns’ is unequivocally false and we are demanding that Forbes immediately and publicly retract that and other statements…”

Scroll below for a look at Kylie Jenner’s twitter responses to Forbes’ recent accusations.

In case you missed it, Coty’s stock has plummeted after purchasing a majority stake in Kylie Cosmetics for $600M USD.

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Source
Forbes

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